IoTeX (IOTX)

IoTeX is an auto-scalable and privacy-centric blockchain infrastructure for the Internet of Things (IoT). According to the developers of IoTeX, the project is the fastest, most secure, and most scalable blockchain platform on the market.

What is IoTeX?

IoTeX (IOTX) is a “blockchain-in-a-blockchain” built for the Internet of Things (IoT) development.

IoTeX's mission is to create a borderless ecosystem where humans and machines can interact with guaranteed trust, free will, and privacy. The project envisions a future where users, not organizations, have full control over their devices and data. No intrusive ads or surveillance, just privacy, and peace of mind. IoTeX calls this vision the Internet of Trusted Things.

Powered by the IoTeX platform, the Internet of Trusted Things is the first open, secure, and human-centered ecosystem of autonomous devices and users. With the Internet of Trusted Things, users can rest easy knowing their data, identity, and privacy are all owned by them.

Outstanding features

What is the project trying to achieve?

IoTex states on their website that “IoTex is on a mission to build a world where everything is interconnected, where everyone owns their own data, devices, and identities. their own”.

IoTeX's ambition is to "democratize" user data transactions, and create a developer-friendly blockchain platform that takes user data out of the hands of internet giants like Google and Google. Facebook.

IoTex went public in 2017, headquartered in Silicon Valley. IoTeX is a decentralized network of users, developers, and businesses that jointly manage and use the IoTeX platform.

As an EVM-compatible “Layer 1” blockchain, IoTeX now supports an ever-growing ecosystem of smart devices, DApps, and digital assets. Network transactions and smart contracts are fueled by the IOTX token, allowing anyone to become a shareholder in the IoTeX Network.

What is unique selling point?

• Blockchain: EVM compatible, Roll-DPoS consensus (5 seconds new block generation + instant aggregation), maintained by over 60 decentralized delegates.
• Decentralized Identity (DID): an on-chain identity framework that allows users/devices to own their data, identity, and credentials.
• Real World Data Oracles: transform real-world phenomena into verifiable, blockchain-ready data for use in IoTeX DApps.
• Decentralized Autonomous Machines (DAMs): a framework for sensors, devices, and machines to automatically create value for people through on-chain data/assets. Examples: piecemeal ownership of machines, real-time resource leasing, machines becoming a service.
• Secure Hardware (TEE): IoTeX combines tamper-proof hardware and tamper-proof software (blockchain) to enable end-to-end trusted solutions. Secure hardware is tamper-proof because it incorporates trusted execution environments (TEEs), which are unhackable and isolated regions that run parallel to the main system of the device/ machine. TEE ensures the confidentiality and integrity of all data and processes running in the TEE.

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